Brokers Issue Forecasts for Axalta Coating Systems Ltd.’s Q1 2022 Earnings (NYSE:AXTA)

Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) – Research analysts at Seaport Res Ptn dropped their Q1 2022 earnings per share (EPS) estimates for Axalta Coating Systems in a research report issued on Wednesday, April 20th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $0.25 per share for the quarter, down from their previous forecast of $0.29. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q2 2022 earnings at $0.42 EPS, Q4 2022 earnings at $0.53 EPS, FY2022 earnings at $1.68 EPS and FY2023 earnings at $2.22 EPS.

AXTA has been the topic of several other reports. TheStreet lowered Axalta Coating Systems from a “b-” rating to a “c+” rating in a research note on Monday, March 21st. Morgan Stanley lowered their price objective on Axalta Coating Systems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 3rd. Royal Bank of Canada lowered Axalta Coating Systems from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $33.00 to $26.00 in a research note on Friday, March 25th. Deutsche Bank Aktiengesellschaft lowered Axalta Coating Systems from a “buy” rating to a “hold” rating and lowered their price objective for the company from $34.00 to $27.00 in a research note on Monday. Finally, StockNews.com lowered Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.82.

Shares of AXTA opened at $25.28 on Thursday. Axalta Coating Systems has a 12-month low of $21.67 and a 12-month high of $34.20. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 0.87 and a beta of 1.42. The stock’s 50-day moving average price is $25.51 and its 200 day moving average price is $29.38. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 2.44.

Axalta Coating Systems (NYSE:AXTAGet Rating) last issued its quarterly earnings results on Monday, January 31st. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.01). Axalta Coating Systems had a net margin of 5.98% and a return on equity of 25.96%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share.

In other news, Director William M. Cook acquired 2,000 shares of Axalta Coating Systems stock in a transaction on Friday, March 4th. The shares were purchased at an average price of $24.64 per share, with a total value of $49,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Raymond James & Associates lifted its holdings in Axalta Coating Systems by 288.6% during the 3rd quarter. Raymond James & Associates now owns 916,396 shares of the specialty chemicals company’s stock worth $26,750,000 after buying an additional 680,566 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Axalta Coating Systems by 202.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,426,435 shares of the specialty chemicals company’s stock worth $42,445,000 after buying an additional 954,830 shares in the last quarter. River & Mercantile Asset Management LLP lifted its holdings in Axalta Coating Systems by 83.9% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 66,200 shares of the specialty chemicals company’s stock worth $1,931,000 after buying an additional 30,200 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Axalta Coating Systems by 49.2% during the 3rd quarter. First Mercantile Trust Co. now owns 8,972 shares of the specialty chemicals company’s stock worth $262,000 after buying an additional 2,960 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Axalta Coating Systems by 43.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 73,694 shares of the specialty chemicals company’s stock valued at $2,151,000 after purchasing an additional 22,482 shares during the period. 97.09% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Company Profile (Get Rating)

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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